Benefits of Direct Check:
- User friendly, just like credit cards terminals or software. Mo more deposit slips to fill out or check to
take to the bank. The system offers powerful daily detailed reporting features.
- Dramatically reduced costs are realized in the time, labor and other expenses associated with the traditional
deposit process.
- Vast Reduction or the virtual elimination of NSF losses and the related NSF charges against the business account
- Vast reductions in collection costs to pursue and retrieve returned NSF check items. This would now be
accomplished through strategic electronic re-presentment
- Additional income streams realized through the collection of NSF fees electronically.
- 100% funds availability once funds are posted to the business account creates an opportunity for money management
decision to provide profit form short term investments
- Unlike credit cards, there are no discount fees associated with Direct Check check conversion.
How Direct Check Works:
Direct Check integrates with a Check Reader, and scans the numbers off the bottom of the checks and then electronically batches them like credit
cards. The whole process is basically the same the on credit cards, but without the expense.
After reading the MICR information , form along the bottom of the paper check, the full face value amount indicated on the
paper check is keyed into the electronic check reader/terminal and thus converted , transmitted and processed as an ACH Electronic Funds Transfer
transaction.
Direct Check then prints a receipt to
be signed by the check writer authorizing his or her paper check to be converted and electronically debited in the way.
Who Uses Direct Check?
Direct Check is primarily with the point of sale or payment window type of business environment to convert paper check into ACH-EFT transactions.
Direct Check is great for Retail Businesses or any businesses that physically receive paper check during the day to day business.
Direct Check offers substantial saving over Credit Card Processing by reducing the typical costs associated with
processing credit cards such as... discount rates, transaction fees, chargebacks penalties, and monthly service charges offers a substantial savings.
Direct Check offers substantial savings over Traditional Check Processing by reducing check handling costs, NSF items,
NSF fees, and in may cases the elimination of costly check guarantee service.
To Get Started with Direct Check:
1. Fill out this Direct Check Application
2. Purchase Direct Check Reader
CheckProcessing.com Products:
ACH Direct Product Line:
